Talk:Gold standard

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edit·history·watch·refresh Stock post message.svg To-do list for Gold standard:


Here are some tasks awaiting attention:
  • Cleanup : Brits section, some biased comments there.
  • NPOV : Neutralize Bias throughout article. Integrate the pro/con list for a more neutral point of view
  • Verify : sources and quotes of the historical values of the amount of cash tied to a certain amount of gold per gram/kilogram. The source for the amount of £ for the UK pound is a bit dodgy since the source is not reputable nor has any address nor ISBN/page number.
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December 24, 2004Featured article candidatePromoted
February 7, 2007Featured article reviewDemoted
Current status: Former featured article

Dates of adoption of a gold standard[edit]

References

  1. ^ Kindleberger, Charles P. (1993). A financial history of western Europe. Oxford: Oxford University Press. pp. 60–63. ISBN 0-19-507738-5. OCLC 26258644. 
  2. ^ Newton, Isaac, Treasury Papers, vol. ccviii. 43, Mint Office, 21 Sept. 1717.
  3. ^ "The Gold Standard in Theory and History", BJ Eichengreen & M Flandreau [1]
  4. ^ The Pocket money book: a monetary chronology of the United States. Great Barrington, Massachusetts: American Institute for Economic Research. 2006. pp. 4–6. ISBN 0-913610-46-1. OCLC 75968548. 
  5. ^ a b c d e f Encyclopedia:. "Gold Standard | Economic History Services". Eh.net. Retrieved 2010-07-24. 

English POV[edit]

Based on French franc, I gather that since 1800, France has been on the gold standard, using a bimetallic standard where silver was used for small change. Even timeline in the discussion fails to note that. Similarly, the Spanish real page indicates that Spain has been using a fixed gold equivalent for its currency since 1566, when the value of silver was also fixed. Can anyone improve the article, so that a reader could understand how did Newton's bimetallism innovated beyond the Spanish bimetallism, and why was the British pound more of a gold standard than the gold napoleons? As is, it seems the article was written with a British POV.

Move discussion in progress[edit]

There is a move discussion in progress on Talk:CDM Gold Standard which affects this page. Please participate on that page and not in this talk page section. Thank you. —RMCD bot 20:30, 11 November 2017 (UTC)

Semi-protected edit request on 5 January 2018[edit]

Under Disadvantages, the following paragraph has no justification so it has to be changed:

The unequal distribution of gold deposits makes the gold standard more advantageous for those countries that produce gold.[69] In 2010 the largest producers of gold, in order, were China, Australia, U.S., South Africa and Russia.[70] The country with the largest unmined gold deposits is Australia.[71]

Richard M. Salsman refutes this supposed disadvantage with several justifications, in his book Gold and Liberty, 1995: https://www.aier.org/sites/default/files/Documents/Research/pdf/Gold%26Liberty.pdf https://www.amazon.com/Gold-Liberty-Richard-M-Salsman/dp/B009NNX2PU

I propose to change this paragraph as following:

Some authors suggest that the unequal distribution of gold deposits makes the gold standard more advantageous for those countries that produce gold.[69] In 2010 the largest producers of gold, in order, were China, Australia, U.S., South Africa and Russia.[70] The country with the largest unmined gold deposits is Australia.[71] This theory is refuted by authors that explain that "gold flows to regions and countries where it has a high value, because prices are low, and out of areas where its value is low and prices are high. Such flows tend to equalize prices globally. [72]" Secondly, "the relevant supply of base money under a gold standard system is all the gold that has ever been mined and accumulated throughout history, not merely its annual increment. Consequently, even if today’s gold mining companies were arbitrary about their production policies (a dubious assumption), they can influence only a small fraction of the total gold money supply. This applies equally to gold mining in countries, such as Russia and South Africa, that suffer political or labor instability. [72]" Large producers of gold have no incentive to rapidly increase the gold supply, nor could they profit of that. "The profit motive of mining companies ensures a smoothly increasing gold money supply. Gold mining companies do not try to influence the aggregate supply of money or the wider economy. They seek profits. There is an incentive to mine as much gold as customers demand, in a cost-effective way. [...] A rise in the value of gold meant a greater demand for gold, a fall in other prices generally, a widening of gold mining profit margins, and an inducement to produce more gold. A fall in the value of gold meant a smaller demand for gold, a rise in other prices generally, a narrowing of gold mining profit margins, and a lower rate of gold production. Gold production was efficiently distributed and it adjusted to meet market demand. [72]"

[72 - Richard M. Salsman, Gold and Liberty, 1995] Psblue (talk) 12:26, 5 January 2018 (UTC)

Not done: please establish a consensus for this alteration before using the {{edit semi-protected}} template. The reliable source status of the proposed source is unclear and therefore needs to be discussed here before such a massive quote can be added. The proposed addition also swamps the section and therefore may also add undue weight to one side of an argument, in violation of the Neutral point-of-view policy. Eggishorn (talk) (contrib) 20:10, 5 January 2018 (UTC)

Semi-protected edit request on 3 September 2018[edit]

Change “sterilize”[vague] to "sterilize". "Sterilization" is a technical term in economics meaning central bank actions to counter the effects of money entering or leaving the country on the domestic money supply. 68.50.41.158 (talk) 01:54, 3 September 2018 (UTC)

I performed this edit request since it seemed uncontroversial. (It didn't seem right to leave the 'Vague' tag in place in a case where 'sterilize' is being used as a regular technical term of economics). The sentence containing the word 'sterilize' is still marked as 'citation needed'. Perhaps the IP editor can suggest an appropriate reference. EdJohnston (talk) 02:32, 3 September 2018 (UTC)